What if they discontinue pennies?

Does anyone think they will stop making pennies anytime soon? When do you think and what will happen to the value of wheats and simple errors like die cracks and Bie? Do you think pennies will become extremely collectible?

 

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No time soon.
Therefore, nothing happens to values.
Nothing will drastically "change" (no pun intended).

Just my $0.02.

(Did you see what I did there?)

 

I doubt that they will discontinue cents any time soon, but even if they did there are so many billions out there that no, they won't become extremely collectible.

 

They won't for awhile, unfortunately. And the only time any modern cents will be collectable is when billions that are out there are completely destroyed by zinc rot. Then maybe the surviving ones with no trace of zinc rot might be worth something.

 

As long as Jarden Zinc continues to pay off the congressional candidates I doubt we will see the end of the cent.

 

No, it would make too much cents. Ar, ar, ar.

 

So.... a few years?

 

Let's just say stashing away a bunch of high grade zincolns might pay off in the future. And if not, then you're not reallly out much money.

 

I think most people know that cents should be fazed out, but our government is so captured by certain economic interests (zinc miners) that it won't happen for a long time.

 

Hopefully it happens VERY soon.

 

It needs to happen ASAP! Nobody cares for them and most people just find them annoying.

 

Given how quickly the zincs rot away, I think UNCIRCULATED samples might someday gain a modest collectible value if cents are ever discontinued, but I don't see that happening for decades. But you might want to save a few rolls of BU's and pass them on to your kids or grandkids.

 

I agree they should be phased out. I have advocated this for 20 years.
Since 1959 they have minted almost a half a trillion cents.
How many have been destroyed/ lost, and collected? Prob only in the low millions.
There are enough pennies in circulation to last for decades, until they need to round up or down to the nearest nickel.
Half dollars are pointless. They need to stop producing them.

 

And when they stop making them they will all disappear within a year, two at the outside and they will have to round to the nearest 5 cents.

 

Only for cash transactions.

That is, nowadays I'm guessing most folks use a credit card WAY more often than cash.

 

They wont disappear within a year. The have been minting billions every year, and that amount is unnecessary. There are plenty to last for a long long time. As was pointed out, most transactions are not in cash anyway, and the number of cash transactions gets smaller and smaller every year.

 

Yeah the penny, as money, it's pretty much useless. I think if we did get rid of them the Mint would use the same strategy that they do for the Kennedy half dollar. Only produce the coins for proof & uncirculated sets. The seigniorage would more than make up for the cost of producing the coins and would be a profit to the Mint/Government.

 

They won't discontinue the paper dollar. Why would you think that they would discontinue the cent? Because Canada did?

They (Canada) were on the ball when they discontinued their paper dollar ('87'?) and switched to the 'Loonie'.......We're "looney" for keeping ours........

 

Indeed. Must be the water.

 

I am quite in agreement. Further, instead of slabbing them, I'd advocate encasing them in traditional old shellac, which will seal them from the elements while allowing the covering to be completely removed by a simple soak in acetone down the road.